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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3131 State Rte 291 Independence, MO 64057-2602

    • Office buildings
    • 7,688 SF
    • 2.72 lot acres
    OFF-MARKET
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1242602
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 3131 State Rte 291

    Year built
    2007
    Construction
    FRAME
    Lot size
    2.72 lot acres
    Property size
    7,688 SF
    Property type
    Office buildings
    APN
    25-940-02-14-01-1
    APU
    259400214011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $495,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $712,000
      Market price range: $305k - $713k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $495,000
      Current use
      WAREHOUSE, STORAGE
      $800,000
      Change: +62% Conversion: Difficult
      RESTAURANT
      $770,000
      Change: +56% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $755,000
      Change: +53% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Jackson
    State
    Missouri
    Longitude
    -94.3715
    Latitude
    39.0615
    CBSA code
    28140
    CBSA name
    KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $72,983
    $553,888
    $335,328
    $889,216
    -
    $0.00
    $0.00
    $2,778,800

    Comparable in this City

    • Value Estimation
      $375,000
      4.37 Acres

      Independence, MO 64057

      OFFICE BUILDING • 4.37 Acres
      Independence, MO 64057
      View Details
    • Value Estimation
      $655,000
      24,232 SF

      20201 Jackson Dr

      OFFICE BUILDING • 24,232 SF
      20201 Jackson Dr, Independence, MO 64057-1569
      View Details
    • Value Estimation
      $385,000
      5,060 SF

      3200 State Rte 291

      OFFICE BUILDING • 5,060 SF
      3200 State Rte 291, Independence, MO 64057-1702
      View Details
    • Value Estimation
      $310,000
      2,208 SF

      3220 State Rte 291

      OFFICE BUILDING • 2,208 SF
      3220 State Rte 291, Independence, MO 64057-1702
      View Details
    • Value Estimation
      $435,000
      4,669 SF

      4700 Little Blue Pkwy

      OFFICE BUILDING • 4,669 SF
      4700 Little Blue Pkwy, Independence, MO 64057-8304
      View Details
    • Value Estimation
      $320,000
      4,308 SF

      17421 Medical Ctr Pkwy

      OFFICE BUILDING • 4,308 SF
      17421 Medical Ctr Pkwy, Independence, MO 64057-1805
      View Details

    Similar Nearby for Sale

    • $2,100,000
      33,624 SF

      Executive Office Building, Independence, MO

      Class B Office, 33,624 SF, $2.1M
      3445 Rte 291, Independence, MO 64057
      View Details
    • Contact for pricing
      200,000 SF

      Medical Suites Near Centerpoint Medical

      Divisible medical suites with hospital access and ample parking.
      19550 E 39Th St, Independence, MO 64057
      View Details
    • $71,500
      0.94 Acres

      Prime Independence Land - Build Your Dream Home

      Nearly 1-acre lot, cleared & surveyed, near schools.
      2100 James Downey Rd, Independence, MO 64057
      View Details
    • $395,000
      7.70 Acres

      Independence Commercial Land - 7.7 Acres

      Prime 7.7-acre development land, excellent location.
      0 Jackson Dr, Independence, MO 64057
      View Details
    • $799,000

      Land Available for Sale

      Land for sale at 3131 S State Route 291.
      3131 S State Route 291, Independence, MO 64057
      View Details
    • $59,900
      0.94 Acres

      Residential Land in Independence, Missouri

      Almost one acre lot, cleared, surveyed, and appraised.
      2100 James Downey Rd, Independence, MO 64057
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr

      Class A Office Space

      Class A office space available for rent.
      4200 Little Blue Pkwy, Independence, MO 64057
      View Details
    • Contact for pricing
      5,276 SF

      Medical Office Space For Rent

      Medical office space with hospital access and ample parking.
      19550-19600 E 39Th St S, Independence, MO 64057
      View Details
    • Contact for pricing
      150,816 SF

      Prime Independence Center Space

      Massive Retail/Office/Industrial Space Available
      18777 39Th St, Independence, MO 64057
      View Details
    • $19 SF/Yr
      69,696 SF

      Move-in Ready Office Space Available

      Exceptional office space near I-70, ideal for various business needs.
      20101 E Jackson. Dr, Independence, MO 64057
      View Details
    • $1,900 /Mo
      1,200 SF

      Medical Office Space Available

      2700 SF medical office with multiple exam/office rooms.
      3800 S Elizabeth St, Independence, MO 64057
      View Details
    • Contact for pricing
      220,000 SF

      Independence Retail Center

      Prime Jackson County Shopping Center
      20000 Jackson Dr, Independence, MO 64057
      View Details
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    3131 State Rte 291
    Independence, MO 64057-2602
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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